DBRS Publishes Updated Default Definition

DBRS has today published an updated default definition as part of its ongoing effort to increase transparency to the market. DBRS refined the definition to include selective default of the issuer for cases when the issuer has failed to satisfy an obligation on a debt issue, but views this as being selective in that the issuer is expected to continue to meet obligations in a timely manner on other securities and/or classes of securities. DBRS added the ability to discontinue-withdraw D ratings after 30 business days.

For more information on this policy, visit www.dbrs.com or contact us at info@dbrs.com.